Didnt declare savings

billywilly

fed_up_and_stressed wrote: »

I mislay my keys, phone but never 50k !!!:rotfl:

I wonder how many people who have ISA's actually believe that they don't need to disclose the capital to the DWP as it is exempt from taxation?

How many people would know which capital is used by the DWP and needs to be notified for means testing purposes.
Inheriting £200,000 and investing it in bonds, stocks and shares
Inheriting £200,000 and using it all to buy a new home outright to live in, thus still retaining the inheritance as equity.

micky2phones

If the 50k was forgot, surely no one would know even now as its been forgotten ?

But as 8k was not forgotten there fore the 50k would not ?

Now it has been remember then at that date HB etc should have been told ?

GaleSF63

"what would happen if two pensioners who currently rent mistakenly forgot to decalre all of there savings eg said have 8k when actually 50k?"

You've got me hoping now. I wonder if there's £50,000 somewhere that I've forgotten?

SeduLOUs

I love when posters come back and edit their first post as if it offers some kind of protection, but somehow fail to remember that the original post has already been quoted and discussed in great detail.

shegirl

GaleSF63 wrote: »

"what would happen if two pensioners who currently rent mistakenly forgot to decalre all of there savings eg said have 8k when actually 50k?"

You've got me hoping now. I wonder if there's £50,000 somewhere that I've forgotten?

I often find mislaid money down the back of the sofa or in an old bag I haven't used for years

tomtom256

billywilly wrote: »

I wonder how many people who have ISA's actually believe that they don't need to disclose the capital to the DWP as it is exempt from taxation?

How many people would know which capital is used by the DWP and needs to be notified for means testing purposes.
Inheriting £200,000 and investing it in bonds, stocks and shares
Inheriting £200,000 and using it all to buy a new home outright to live in, thus still retaining the inheritance as equity.

But the DWP have nothing to do with taxation, so why would people think that?

The questions asked about savings/capital are pretty basic i.e. do you or your partner have any savings, capital or investments and often ask you to list any and all bank, building society accounts etc you hold.

wiltsguy_2

neas wrote: »

Most likely these pensioners worked all their life didn't claim benefits all their life and put more in than they took out....

Now you have someone who never worked a day in their life, having 4+ kids believing its their right to have them and be paid for by the government.

Their decision doesn't look as annoying as the ones milking the system from day 1 now does it.

I totally agree, if they have worked hard all of their lives, whilst paying into the system and saved...why no keep their savings. So many scroungers are 'breeding' baby after baby and claiming so many different types of benefits and living the easy life while the rest of the counrty works to fund this lazy lifestyle!

Marisco

wiltsguy wrote: »

I totally agree, if they have worked hard all of their lives, whilst paying into the system and saved...why no keep their savings. So many scroungers are 'breeding' baby after baby and claiming so many different types of benefits and living the easy life while the rest of the counrty works to fund this lazy lifestyle!

So you are quite happy to have your hard earned wages taxed to the hilt, so a couple of old folk can keep 50k intact are you? What is the point of saving for "old age" if all you're going to do is keep it and take off others? Surely the point of saving is to have a nice retirement, not hoard it and claim benefits?

And as for the person who said in an earlier post, that prosecuting pensioners will not play well with the public? Think again! I'm all in favour of prosecuting people for benefit fraud, no matter what their age is! I can understand someone forgetting they have a couple of hundred quid somewhere, but fifty grand?? Pull the other one!

wiltsguy_2

Marisco wrote: »

So you are quite happy to have your hard earned wages taxed to the hilt, so a couple of old folk can keep 50k intact are you? What is the point of saving for "old age" if all you're going to do is keep it and take off others?

i don't have an issue paying to support pensioners that have paid into the system all of their life, and hopefully that will be me one day(if i live long enough ). I dont have an issue with supporting pensioners, they have saved that money to maybe give their families a 'leg up' in life.

I do however resent my wages being 'taxed to the hilt' to support the amount of parasites in the UK that are able to work, but chose not to.

NYM

Regardless of age, no one should take something they're not entitled to.

It's really simple to understand.